Sheffield a new generation city centre

We want to lead a new generation of highly flexible, retail led mixed uses with the right partners. Sheffield is one of the UK’s largest cities with a growing population of almost 550,000, an increasingly aspirational demographic and a City Region of circa 1.8m people. We have an expanding Central Business District, exciting new residential communities emerging around the City Centre and major additions to both university campuses.

In partnership with SWIPPT Sheffield’s Moor is being reborn, with major investment in the public realm and the first phase of new shops opening to coincide with the launch of the city’s highly successful new Moor

Market. The next phase of this exciting plan with a new multi-screen cinema, Primark store and additional retail, food and drink outlets is the perfect link between the Moor and our proposed New Retail Quarter. Many leading thinkers have published work on the changing role of the UK high street. Sheffield is uniquely positioned to put this into action, emerging as an exemplar of best practice with a pioneering new vision for Sheffield City Centre. Our long term vision is to complement this with a major new HS2 station in the City Centre. As part of this ambition, we are confident that Sheffield now has a uniquely compelling investment proposition.

Real momentum is now building in the on-going regeneration of Sheffield with the consolidation and upgrading of our retail centre well underway.

Top of Moor linking to Retail Quarter

The Moor Market

The Moor Developments

Sheffield City Centre

New Retail Quarter

Sheffield Hallam University

The University of Sheffield

Sheffield Station

New Business District

Sheffield is well placed to bring about this step change to its City Centre, being one of only three cities with ring fenced Tax Increment Finance (TIF) powers. Sheffield will use this TIF to create an investment pot to be spent on the City Centre. Our first use of TIF has been to enable CTP to develop 3 St Paul’s Place, completing the Heart of the City office development. The city will control the land ownership of the Retail Quarter and will use TIF to leverage further improvements to the City Centre. John Lewis Partnership continue to work with us on the major anchor element of a scheme. In addition to this favourable financial package, there is strong evidence to highlight latent demand and significantly under-served audiences, many of whom are in the most affluent and aspirational MOSAIC groups.

A broader look at existing retail spend in the city, including Meadowhall, highlights a spend of £1,680m (CACI 2012) with the clear potential to reach well in excess of £2,000m. The new City Centre scheme will rival Manchester, Birmingham and Leeds in the Top 5 UK retail cities. We believe that Sheffield can quickly become a strong symbol of UK Plc recovery. Recent ONS data (Jan 2014) confirmed that in 2013 the UK economy showed its strongest growth since 2007. Recent analysis by DTZ (UK Annual Outlook 2014) indicated that retail spending in all big UK cities is forecast to increase between 2.55% per annum between 2014-2018. This will be accompanied by an uplift in prime rents post 2015 of 2% per annum. With investment yields hardening, we believe there is an imminent 2-3 year window of opportunity to invest in Sheffield and maximise return on investment. With these market conditions in mind, we strongly believe that 2014 is the beginning of an exciting new chapter for Sheffield.

Contact Us

Nalin SeneviratneDirector of Capital and Major ProjectsTel: + 44 (0) 114 205 7017Mobile: +44 (0) 7891 833 771Email: nalin.seneviratne@sheffield.gov.uk

Simon KiddRetail Director NRQMobile: +44 (0) 7800 871 692Email: simon.kidd@sheffield.gov.uk Nigel CunisCommercial Director NRQTel: +44 (0) 114 293 0761Mobile: +44 (0) 7855 231 115Email: nigel.cunis@sheffield.gov.uk

If you would like to be part of this success story, please come and talk to me or one of my team.

John Mothersole Chief Executive Sheffield City Council